Big Island

Prices Rise at Halii Kai at Waikoloa Beach Resort – August 2013 Market Update

In my March 2013 market report on condo sales at Halii Kai at Waikoloa Beach Resort, I noted that there had been only 4 sales in a five-month period. In the subsequent five-month period through August, a total of nine condos were sold. There are three sections/views at Halii Kai although all buildings have the same layout – that’s why it is important to look at sales according to their location.

Of these nine condos sold:

  • Six had the garden/mountain view typical of the Coconut Grove area
  • Two were on the golf course with ocean view
  • One was in the corner that is not on the golf course, but with ocean view across the road

In all view locations, the trend continues: prices are up on sales of comparable units, even on short sales (which have become increasingly rare). Here are some other statistics to keep in mind if you are a prospective buyer reading this post:

  • Median days on market is 69, but four of the listings had accepted offers in under 30 days
  • Average sales prices is 96% of list price
  • Coconut Grove sales are recording at 30% above the developer close-out prices of 2 years ago
  • There is only one active listing under $1 million; 5 out of 9 active listings are direct oceanfront!

Halii Kai oceanfront condos

Only three buildings at Halii Kai are directly oceanfront (MLS# 259048) & (MLS# 260665)

First Non-Oceanfront $1 Million Sale Since 2009 Halii Kai Developer Sale

My business partner, Pam, listed side-by-side units Halii Kai 8F and 8G for the same seller. At the time, they had a door between them making a six-bedroom condo! Because these are mirror-image condos, same floorplan and same designer furnishings, they make a perfect market comp. One sold a year ago for $985,000 (constrained by appraisal); the other sold this week for $1,015,000 (no problem on appraisal).

While only a small increase in absolute terms, breaking the $1 million barrier and having appraisers acknowledge the improving market sets the groundwork for pricing as we move into the winter selling season.

In the golf/ocean view row, there are only three condos for sale at the moment, all of them three-bedrooms. Between the one in building 9 listed for $1,175,000 (MLS# 265371) and the one in building 11 listed for $1,200,000 (MLS# 258134), let’s be two buildings closer to the Ocean Club!

View of ocean and golfcourse Halii Kai condo for sale

Golf and ocean view from Halii Kai 11F, a short walk to the Ocean Club amenities

Is $500,000 the New Floor for Halii Kai Sales Prices?

The trend in Coconut Grove sales suggests that Halii Kai sellers have new expectations. The three bedroom, two bath floorplan sold for $467,500 (partly furnished) in April; $550,000 furnished in July (16 days on market); and a condo on the other side of the same building was just listed for $625,000.

While there are two Halii Kai units that have been abandoned for some time of this same floorplan (and therefore will show up as short sale or REO listings), the only difference in the pricing between those units and a regular market sale is likely to be condition and furnishings.

There is a pending short sale on Halii Kai 16B, listed at $415,000. The unit is not only stripped even of appliances, it has a large ($30,000+) HOA delinquency to be covered by buyer. The mirror image condo which had all the upgrades (tile throughout, upgraded appliances, wet bar on the lanai) plus Pottery Barn furnishings sold in July for $500,000 – 9 days on market. The math works out.

Coconut Grove at Halii Kai condo for sale

The only Halii Kai condo for sale in the Coconut Grove area is (MLS# 265793) for $625,000

The job of a buyer’s agent at the Kohala Coast resorts is different than it was a year or two ago. I’m no longer looking for great deals for my clients; I’m just looking for something that meets their criteria that’s for sale.

A hui hou,

Beth Thoma Robinson R(B)
Direct: 808.443.4588
Email: beth@hawaiilife.com

Subscribe to my blog posts at PB.HawaiiLife.com

Comments (2) Show CommentsHide Comments (Remember)

Cool. Add your comment...

Your email address will not be published. Required fields are marked *

Leave your opinion here. Please be nice. Your Email address will be kept private, this form is secure and we never spam you.

Pam Deery, R(B)

September 24, 2013

Beth; good information again! The three new listings all of the penthouse (3 br 3 bth) units have created a flurry of inquires and interest now that the market has “broken the barrier” of the $1M price range; though one of those is bound to be the next sale with a list price of $999k.

Noteworthy update is the latest 2 bedroom interior unit in building 3 on the golf course listed just two days ago at $469k!

This one won’t last long! We best get to our preferred client list…

Pam Deery, R(B)

September 24, 2013

Beth; good information again! The three new listings all of the penthouse (3 br 3 bth) units have created a flurry of inquires and interest now that the market has “broken the barrier” of the $1M price range; though one of those is bound to be the next sale with a list price of $999k.

Noteworthy update is the latest 2 bedroom interior unit in building 3 on the golf course listed just two days ago at $469k!

This one won’t last long! We best get to our preferred client list…

More Articles from Hawaii Life

Big Island Hawaii Hawaii Island Luxury

ホルアロアの高級不動産 | ハワイ島の隠れた宝石

Listed by Carrie Nicholson 記事/バイヤーエージェント:ルーベンスティンあけみ ハワイ島の不動産といえば、多くの方がカイルア・コナやワイコロアを思い浮かべるかもしれませんが、実は他にも素晴らしい住宅地が多く存在します。その中の一つが、隠れた名所「ホルアロア」です。 ホルアロアは、カイルア・コナの町から車で約15分、標高が高い山側に位置しており、心地よい涼しさと美しい風景が楽しめる地域です。このエリアは、コーヒー農園が広がる豊かな自然に囲まれ、静かでありながら生活の便利さも兼ね備えています。主要なショッピングエリアや空港へのアクセスも良好で、まさに理想の住環境です。 夢のようなプライベートライフを提供するホルアロアの高級住宅 今回ご紹介する物件は、広大な5エーカー(約6,121坪)の敷地に建てられた、総面積約6,300平方フィート(約177坪)の豪華な邸宅です。コナ海岸の壮大な眺望を望み、贅沢でプライベートな島のライフスタイルを満喫できるこの物件は、まさに「夢の邸宅」と言えるでしょう。 邸宅は、最近数百万ドルをかけた大規模なリノベーションが施され、5つのベッドルームと4つのバスルームを備えた完璧な空間に仕上がっています。母屋に加え、可愛らしいゲストハウス(オハナ)やリビングスペースを備えたキャリッジハウスがあり、合計3つの建物で構成されています。さらに、2,600平方フィート(約70坪)の屋根付きラナイとオープンラナイも完備され、贅沢なアウトドアリビングを楽しむことができます。 卓越したデザインと設備が彩る室内 玄関を入ると、ブロンズ製のカスタムドアが出迎え、洗練された岩を埋め込んだプランターとカピス貝のシャンデリアが空間を華やかに彩ります。その先に広がるのは、コナ海岸の圧巻の景色。 キッチンは完全に改装され、シェフにとって理想的な空間が広がります。サペリマホガニーのカスタムキャビネット、商業用のボッシュ電化製品、滝のような美しいクォーツカウンター、そして広々としたパントリーが揃っています。 マスタースイートは贅沢そのもの。専用バスルームには職人技が光る岩とタイルのシャワーや美しいタブが備えられ、カリフォルニアクローゼットシステムやプライベートラナイ、ヨガロフトも完備されています。 生活の贅沢さをさらに高める特別な空間 この邸宅は、見どころが豊富です。 イタリア産の玄武岩を使った暖炉を備えた、広々としたリビングルーム カメラモニター付きの監視システムで、万全のセキュリティを提供 カクテルバーとワインセラーがつながったダイニングルーム マホガニー材のキャビネットが備わった、広々とした洗濯室 …